Can pro AV industry sales maintain record numbers as US economy slows? | Bot To News

Not every industry has been blessed with a recovery in 2022. However, the Pro AV industry appears to be in good favor with the larger trends shaping the market and B2B sales this year. According to AVIXA’s recent Pro AV Index report, Pro AV industry sales as of October 2022 averaged approximately 65.1 based on the organization’s sales index; this is 0.7 points more than in September and the same year-on-year. Just under half of the companies surveyed indicated that sales were unchanged from the previous month, but about 40% said they saw sales increase by 5% or more over a one-month period.

November’s numbers pushed that upbeat index number down to 57.0, a sharp drop in line with a slowdown and layoffs across the economy. However, if general trends hold and the year ends with sales averages around October’s numbers, then Pro AV industry sales and the AVIXA sales index will reach their highest annual averages of all time.

Unfortunately, other metrics from the Pro AV Business Index show that the Pro AV industry is struggling slightly with sales growth. The AVIXA employment index shows both monthly and year-over-year employment numbers are slightly lower, with AV leaders pointing to supply backlogs as one of the main drags on employment and overall financial stability. However, AVIXA calls this employment index a “modest” decline, comparing October’s figure of 61.2 with similar levels before the pandemic.

Peter Hansen, Economic Analyst at AVIXA, provides his brief analysis of the factors influencing the record high sales in the Pro AV industry.

Peter’s thoughts

“Layoffs in the technology industry and record growth in the professional audio-visual industry are two sides of the same coin. The pandemic’s remoteness has been a financial windfall for most areas of online solutions, but the immersive experience with family, friends and community has lasting value. Therefore, 2022 was the year of the return.

High-end personal AV is making a comeback, while tech companies do something right-sized. AVIXA Pro AV Business Index shows record growth in sales and employment. It’s been a great year so far and it’s not over yet.”

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